How The War On Talent Has Negatively Impacted Business Management Essay

More and more each year we seem to experience what can only be stated as a growing talent shortage throughout all departments of our company; so starting today we will be implementing a comprehensive change to our strategies for finding exceptional talent. According to Winston & Gallagher (2014), a ManpowerGroup report shows that 36% of managers in all industries are reporting a major shortage of the talent pool and have come up with several ideas on how to correct this issue. We are a small city trying to compete with large cities such as Houston, Dallas, and Austin just minutes and hours from our front doors. So starting today we will implement what will be known as the “Woodlands Initiative” that will play off the incredible lifestyle available here in The Woodlands Texas.

At a time when many companies experience a difficult economic situation, they have to cut costs by laying off workers, and worse if your employees decided to leave for other competitors. Losing a talented worker is costly and to replace your top employee’s knowledge, experience and customer relationships is not something as simple as ones might think. So why do good employees quit? Even with high wages or great benefit, employees can still depart from the company if they do not get along well with their managers. So in order to keep good employees on board, the managers play an important role in knowing and matching their workers’ needs. In what follows, I going to analyze the case study: “Why are we losing all our good people?” which is about a fictional firm called “Sambian Partners”; what's really the reasons that is driving talented people out of the company and offering some solution to help Sambian stop the talent drain.

D. Consequences for recruitment and retention of top talent: Matthew Rice’s article outlines the compensation and talent strategies that minimize employee turnover. Talent audits are used to identify top performers, investing in employee engagement strategies to improve retention of the existing team, and eliminate employees’ reasons to leave by offering job activities and development opportunities, and this because: “A talent audit is a critical first step in understanding your risk profile and where you need to invest time, energy and capital to limit your turnover risk” (Rice, 2011, p. 32). If applicable, describe any consequences this scenario has had for the organization 's ability to recruit and/or retain top talent. The research provides insight in how changes in

As companies continue to try to come up with a plan for remaining profitable, some are overlooking one of their best opportunities due to their short sightedness and obsession for short term gain. It is the very asset which most firms claim is their most important and the one which provides them their competitive advantage. It is also, in some companies, the asset which is most mistreated and neglected as it is the most costly. It is the company’s employees. I don’t know of any company which would not state that employees and their knowledge of the company, its products and services, processes,

More businesses are now adding new strategies to their recruitment process. An example is, companies new reduction plans have been starting and according to the Governor Cuomo “These polices will not only lift up the current generation of low-wage workers and their families, but ensure fairness for future generations and enable them to climb the ladder of opportunity. I am proud to sign these programs into law, because they will ensure a stronger and brighter future for all New Yorkers”. The new employment laws are expected to cause a ripple effect across the nation, pressuring on employers' practices and soon dismissing the unskilled. Politicians raising the state’s minimum wage as high as the median wage, will lead businesses in a state of raising the salaries of half of those employed, or else take measures to trim the number of employees on the payroll. Hence, more employment qualities will most likely be improved, leaving uneducated people at the bottom of the list according to an article published by USA Today for the 5th of April

In the article “Are They Really Ready to Work?” Jill Casner-Lotto and Linda Barrington compile surveyed results of employers’ views on their employees’ preparation for the workforce, based on their level of education. Casner-Lotto is a former senior vice president of policy studies at Work in America Institute and researches human resources, and Barrington is a labor economist and Research Director at The Conference Board. The authors take all of the information acquired and provides the reader with some of the extremities.

Over the years, there has been a great impact on society and the workforce due to the shift from a manufacture driven economy to a retail and service driven one. One of the main causes of this is the outsourcing of manufacturing and entry-level jobs to those overseas in order for the company to earn more profit. They hire foreign workers to be employed for little wages and take openings away from those living in the United States where the products will be sold. Therefore, there are few job openings, particularly in the expanding service industry, for those without advanced degrees and more people are fighting for them during the past decade due to the Great Recession. A significant problem associated with this is that people are forced to

Today there is a critical shortage of “qualified” workers. There are both worker shortages as well as skill gaps in addition to low unemployment rates which are making it very difficult to recruit talent.

employees with no experience and the skill necessary to do the job are being hired. Also,

During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:

Allen, D. G., Bryant, P. C., & Vardaman, J. M. (2010). Retaining Talent: Replacing Misconceptions with Evidence-Based Strategies. Academy Of Management Perspectives, 24(2), 48-64. doi:10.5465/AMP.2010.51827775

their superior contributions, whether it be pay in the form of performance-related rewards or simply higher-than-average compensation (4). It is also critical to ensure that the recruited ‘human talent’ sustain and further develop their skills through forms of (5) extensive training and experience. (6) The reduction of status differences is a means to ensure the

Thus, equal opportunities and a diversity of talented workers in the workplace is the answer to this meritocracy dilemma according to Dylan Twener in his magazine article “An Objective Hiring Process Creates a Better Workforce” (Twener). Twener argued for a more objective hiring and promotion processes of diversified and talented workers in response to increasingly more diversified American workplaces and to satisfy a more sensitive and diversified customer needs without lowering the hiring standards for the newly hired workers. Moreover, more diversified customer needs require more diversified groups of talented and meritorious workers to accommodate the customer needs to enrich and

Talent acquisition is defined as the “strategic approach to identifying, attracting and onboarding top talent to efficiently and effectively meet dynamic business needs” (Erickson, 2012). Talent acquisition has the unique role of ensuring job applicants not only have the right credentials for the job, but also have the right mentality for the job. In other words, the person who ultimately will be offered the job needs to ‘fit’ within the firm’s structure and culture.

Today’s Society as a whole is ever changing and exceedingly diverse. This can also be said in the nature of business. Therefore, it is critical for organisations, HR managers and employers within any business to find different methods of training and development to suit their workforce, as well as trying to attract and keep talented employees through such opportunities. It is not satisfactory for employers to treat each employee the same, but instead must view each as an individual with differences, such as working styles, personality traits, culture, socioeconomic background, educational background and